Top advisor to stay in region after Evolution buyout blow

Joanne Lake and the former team from Evolution Group are staying in Yorkshire, it was confirmed last night.

Last month, it was revealed that Evolution Group’s new parent Investec was pulling out of corporate finance work in Leeds, dealing a blow to the city’s advisory community.

The South African finance group confirmed it was closing the Leeds office of Evolution Securities after completing its purchase of Evolution Group in December.

The three-strong Leeds office of Evolution Securities was headed by Ms Lake, who is also chairman of Financial Leeds, a body which represents financial and professional services firms in and around Leeds.

Last night Merchant Securities, which was recently bought by South African-based financial services group Sanlam, confirmed that the corporate finance team at the Leeds office of Evolution Securities will join the group with effect from March 6. Ms Lake joins as a director of corporate finance and head of the Leeds office.

Ms Lake has nearly 20 years’ experience in advising both AIM- quoted and main market companies.

Before joining Evolution Securities, she worked for Williams de Broë and Henry Cooke Corporate Finance. She is also chairman of the London Stock Exchange Regional Advisory Group for Yorkshire and the North-East

The other Leeds team members are Peter Steel and Casper Kaars Sijpesteijn, who have worked alongside Ms Lake for several years.

The Leeds team will provide corporate finance services to both quoted and private companies in Yorkshire and the surrounding regions.

Jeff Keating has also been appointed as a director of corporate finance in London with immediate effect.

Mr Keating joins Merchant Securities from Singer Capital Markets, where he was joint head of corporate finance.

Patrick Claridge, the chief executive of Merchant Securities, said: “We have been building our investment banking operations over the last year or so through key hires and these new appointments are part of our objective to grow our corporate advisory services substantially.

“I am delighted to welcome both Joanne Lake and her colleagues and Jeff Keating to our team.”

Apart from the former Evolution team, Merchant Securities also has a wealth manager in the Leeds office.